RCBC Instacard: Application Requirements and Process [Actual Experience]

Not really desperate, but I can no longer count with my fingers the number of denied credit card applications, mostly with top banks, I had before I finally gave up or let’s just say, tried the other way around. And that is — building my credit score through a secured credit card, an RCBC INSTACARD.

I plan to use my RCBC Instacard for regular credit card applications in the future. I guess I need not to explain any further what a secured credit card is.

I switched to RCBC after I learned about the increase in ATM withdrawal fees. Yes, there is a branch near my residence, just a short walk away.

[1] Inquiry and Application (June 18, 2021). While I was still on a summer vacation from all academic workloads, I made a visit at the nearby RCBC branch to inquire about their RCBC Instacard offering, but I also had an over-the-counter cash deposit so not to get ‘awkward’ about the real purpose of the visit.

Not that a busy hour then, I was instantly entertained at the New Accounts section. I was first encouraged to make an application for a regular credit card, but in all honesty, I told them I already had a denied application just weeks ago. It was all understood.

Card application details were all explained although I made no further inquiries since I had a research already early on. Soon after, I was handed an application form which I filled out in like fifteen minutes (better prepare all your adulting stuff such as SSS number, TIN, etc.).

Other than this, I was also asked to sign at least five (5) copies of a Deed of Assignment indicating the holdout amount from my existing RCBC account and had one ID photocopied. Just that, I left the bank with their promise to reach me out through my declared contact details for application updates. By the way, I decided to have PHP20,000.00 (only 95% of it though is my credit limit).

[2] Application Status Follow-up (July 08, 2021). I heard nothing about my RCBC Instacard application for weeks since my branch visit so I checked online for means on how to make a follow-up on this.

I emailed Bankard and was asked details of my application. On the same day I was able to send these, I received both an SMS and email informing me it was ‘denied.’

What? I was surprised because it was a secured credit card and a few days ago, I found the declared amount was already held out of my RCBC account. It was however immediately clarified that the notif was about my previous regular credit card application. Further, I was given a reference number for the latest application and so was informed that I had to resend a clearer copy of any identification card. I was even phoned by the local branch representative about this follow-up requirement. The exchange of emails happened for almost a week.

[3] Approval (July 15, 2021). In less than a month or a few days after I completed my application with the follow-up ID copy, I received an email saying it got approved, and the card was already out for delivery.

[4] Card Delivery and Activation (July 17, 2021). Just two days after the approval, I got the card mailed to my residence. It was my sister who received it. What I got was — an RCBC Bankard Flex Visa.

I found it difficult to activate though via SMS so I decided to phone RCBC Bankard via their customer service hotline. After a quick verification, it finally got activated. I had my first online purchase a day after.